The Exchange has received the disclosure under Regulation 29(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 for Akshay Sevantilal Mehta & Other
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Promoter Akshay Sevantilal Mehta along with promoter group member Varshaben Akshay Mehta sold a combined 24,93,500 equity shares (16.58% of total share capital) of Bhakti Gems and Jewellery Limited (BSE scrip 540545) between August 22-26, 2025, for an aggregate value of approximately ₹4.74 crore. Akshay Sevantilal Mehta personally sold 24,18,500 shares, bringing his holding from 32.36% down to 16.28%, while Varshaben Akshay Mehta sold 75,000 shares, reducing her stake from 8.43% to 7.93%. As a result, combined promoter holding fell sharply from 40.79% to 24.21%, a reduction of 16.58 percentage points in just five trading days. The disclosure was filed under Regulation 29(2) of SEBI (SAST) Regulations, 2011.
This is a significant promoter exit of over 16% of equity in a short window, which may weigh negatively on retail sentiment and signal reduced promoter conviction. However, the post-sale promoter holding of ~24% still preserves meaningful skin-in-the-game, and the open-market nature of the sale indicates orderly unwinding rather than distress.